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Shares of SRF Ltd. gained as most analysts raised their target prices for the specialty chemicals maker, citing buoyant growth outlook for the firm’s fluorospecialty chemicals business and better-than-expected margin in technical textiles and packaging films.
Key Highlights (Consolidated, YoY)
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Net profit up 54% at Rs 608 crore
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Revenue up 44% at Rs 3,894.72 crore
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Ebitda at Rs 1,019.84 crore vs Rs 657.55 crore
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Ebitda margin at 26.19% vs 24.36%
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Interim dividend of Rs 3.60 apiece declared
Shares of SRF rose more than 5%, the most in over two weeks, as of 1:25 pm on Monday. The stock had closed 2% down after its results on Friday.
The trading volume is quadruple the 30-day average. The stock crossed over the 200-day simple moving average, indicating potential upward price momentum.
Of the 28 analysts tracking the company, 24 maintain a ‘buy’, four suggest a ‘hold’ and one recommends a ‘sell’, according to Bloomberg data. The 12-month consensus price target implies an upside of 13.8%.
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